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Doji on the globex daily. Dojis at the highs have lead to pullbacks. This is a descending triangle, we have had three pushes up. I think next week we could break out, I believe this rally needs an ATH. If that isn't obtained then we could see more selling pressure.
AS you can see we got the BO of the TL after we tested the AWN high again. Yesterday we rallied to the AWR high and have since broken out of that. Today's action was range bound.
AMN High is above, I believe that is our target for the move at the moment. If we can break that then the AMR above would put us at an ATH.
I've heard a more seasoned trader then me say "Futures Lie, But Cash Doesn't Lie", so lets look at the index itself:
Classic Pennant on the Daily. Generally, this is a continuation pattern. A break and hold above 4300 means we are going higher...if you go for this sort of thing
I am new to futures.io (formerly BMT) and loving the fellow traders posts. It really inspires and keep me focused. A very big thank you to Big Mike for such a wonderful forum.
Now back to discussion, Its been a year since I moved to US (from India). I especially looked only on NQ100 Index.
I have been following DEMA (5/20), SMA 50/100. They have been very good in terms of Stop and Reverse Method (Trading Virtually). I am not trading positional as of yet due to funds constraints just doing Intraday with pivot/stochastics strategy.
My question to fellow traders, Is anyone following same method and can someone explain about thier strategy. Posted my view on NQ100 for upcoming days.
20 DEMA was a good resistance for the day. Prices went above 20 DEMA but could not hold for first hour. There have been multiple attempts but could not break. 20 DEMA followers had a good day.
